The conversion value expresses the value of a conversion output with money. This allows you to determine if the costs you incur are profitable.
A conversion is an action that a visitor performs. In the case of a car salesperson, this would be test drive requests, for example. To calculate the conversion value of this request, you first need to find out what percentage of people who take a test drive actually buy a car. And what does this yield on average per month? With that information, you can calculate the value of the conversion.
The conversion value differs per conversion. For example, a test drive request will likely generate more profit than a brochure request, meaning the conversion value of the test drive request is higher.
If you know the conversion value of a specific conversion, it is important to generate as many conversions as possible within that value (the cost of a conversion).
In addition to the conversion value, also click to conversion time en Return on Investment important sales terms.
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